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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    “Optimistic” expectations about global gas demand during 2024

    Rocky
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    “Optimistic” expectations about global gas demand during 2024 Empty “Optimistic” expectations about global gas demand during 2024

    Post by Rocky Sun Jan 28, 2024 6:59 am

    “Optimistic” expectations about global gas demand during 2024

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    Economy News _ Follow
     
    [rtl]Despite the record high prices last year, a recent report expected that global demand for gas would witness new rises during the current year despite the decline in the volume of supply, which caused violent price fluctuations.[/rtl]
     
    [rtl]In a recent statement, the International Energy Agency expected that global demand for gas will witness an increase of 2.5% during the year 2024.[/rtl]
     
    [rtl]She said that these expectations are supported by cold winter temperatures compared to last year, and high demand from the industrial sector due to falling prices, noting that only a slight increase in gas consumption for electricity generation is expected.[/rtl]
     
    [rtl]The rise in consumption in the Asia-Pacific, North America and Middle East regions is likely to be partially balanced by the decline in demand in Europe, with the limited increase in global LNG production expected to curb demand growth in 2024.[/rtl]
     
    [rtl]The agency expected the supply of liquefied gas to increase by 3.5% this year due to delays in gas liquefaction stations, which is less than in previous years. It is likely that the increasing demand and scarcity of supply will contribute to causing major price fluctuations throughout the current year.[/rtl]
     
    [rtl]Rystad Energy had predicted, in a previous report, that global demand for gas would rise in the next decade, affecting a 12.5% ​​increase in production between 2023 and 2030.[/rtl]
     
    [rtl]She stated that even in scenarios of temperature increases of 1.9 and 2.5 degrees Celsius, with rapid growth in renewable energy sources, the current set of existing gas fields will not meet global demand, which requires rapid growth in unconventional gas supplies.[/rtl]
     
    [rtl]She said that gas-rich geographical regions, such as the Middle East, will play a key role in bridging this gap, as they will provide an estimated 20 million tons annually of liquefied natural gas by 2040.[/rtl]
     
    [rtl]Unconventional gas production, such as shale, has seen rapid growth in recent years due to technological advances and reduced production lead times. This rapid growth has pushed the global share of unconventional gas supplies in global gas production at a pace that previously required more time to achieve, as it escalated from 4% in 2000 to 12% in 2022 and 35% in 2023.[/rtl]
     
    [rtl]It stated that the influx of gas at reasonable prices from unconventional sources and continuous supplies from exporting countries such as Russia have weakened efforts to explore for conventional gas. This is evident in the fact that approximately 70% of the discovered conventional quantities have not yet received sanctions for their development, which explains the obstacles and reluctance to develop some of these discoveries.[/rtl]


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